Adamas One Acquires Minority Equity Stake in Artificial Intelligence Solutions Provider NexGenAI Solutions Group, Inc.
May 31 2023 - 08:30AM
GlobeNewswire Inc.
Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the
“Company”), The Original Lab-Grown Diamond Company™, a high-tech
company that leverages proprietary technology to produce
high-quality, single-crystal, Lab-Grown Diamonds for jewelry and
diamond materials for industrial uses, today announces the
acquisition of a 9.99 equity stake in NexGenAI Solutions Group,
Inc. (“NexGenAI”), which, through its subsidiaries and affiliate
entities, offers AI-driven solutions aimed at revolutionizing
business operations across various sectors.
As part of the all-stock transaction, Adamas
will receive access to NexGenAI’s AI-driven solutions, which will
help the Company streamline a number of its manufacturing,
marketing, branding and communications processes. Adamas expects
this partnership to help improve manufacturing output volume,
create and manufacture new jewelry designs in its high-end Elle
Jolie line and help streamline marketing activities that range from
simple AI-driven communications on the Company’s website to
spearheading targeted marketing campaigns.
Adamas One CEO Jay Grdina stated, “Artificial
Intelligence is cutting-edge technology that is rightly gaining
significant attention and traction both in the current business
macroenvironment and in the culture as a whole. This investment and
partnership allows us to strategically fold AI into our our
business, with the goal to maximize output, efficiency, creativity,
and value. NexGenAI features an impressive lineup of founding
entrepreneurs with impressive track records. We believe that the
benefits of strategic AI integration if successful, will result in
measurable business success and shareholder value.”
"By leveraging the strategic capabilities of
NexGenAI's artificial intelligence in our operations, our goal is
to improve output and enhance efficiency for Adamas One. This
practical integration of AI into the business framework marks a
prudent step towards sustaining growth trajectory and fortifying
our market position in the face of emerging technologies,” added
Michael Woloshin, founder of NexGenAI Solutions.
About NexGenAI:NexGenAI, through its
subsidiaries NexGenAI Solutions Group USA and NexGenAI Solutions
Group EAL, provides cutting-edge AI-driven solutions that
revolutionize business operations across various sectors. By
leveraging artificial intelligence, NexGenAI empowers companies to
automate processes, optimize efficiency, and drive sustainable
growth. For more information on NexgenAI go to Nexgenai.io.
About Adamas One CorpAdamas is a lab-grown
diamond manufacturer that produces near flawless single-crystal
diamonds for gemstone and industrial applications, in its
facilities in Greenville, South Carolina. The Company holds 36
patents and uses its proprietary chemical vapor deposition (CVD) to
grow gem-sized and smaller diamond crystals. Adamas One™ lab-grown
diamonds have the same physical, chemical and optical properties as
mined diamonds. The Company’s controlled manufacturing processes
enables it to produce very high-quality, high-purity,
single-crystal colorless, near colorless and fancy colored Type IIA
diamonds to suit a variety of industrial and gemstone applications.
The Company intends to market and sell its diamonds into the
wholesale jewelry and industrial markets. For more information,
visit www.adamasone.com.
Not Mined. Not Fake. Just sped up
perfection. ™
Forward-Looking StatementsThis
press release may include “forward-looking statements.” To the
extent that the information presented in this press release
discusses financial projections, information, or expectations about
our business plans, results of operations, products or markets, or
otherwise makes statements about future events, such statements are
forward-looking. Such forward-looking statements can be identified
by the use of words such as “should”, “may,” “intends,”
“anticipates,” “believes,” “estimates,” “projects,” “forecasts,”
“expects,” “plans,” and “proposes.” Although we believe that the
expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements, including, but not limited
to, our ability to integrate the AI solutions as expected, or at
all, and the success of our business partners. You are urged to
carefully review and consider any cautionary statements and other
disclosures, including the statements made under the heading “Risk
Factors” and elsewhere in documents that we file from time to time
with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date of the document in which they
are contained, and Adamas One Corp. does not undertake any duty to
update any forward-looking statements except as may be required by
law. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.
For more information contact:
Investor RelationsCORE IRScott Arnold, Managing
Partner516 222 2560ir@adamasone.com
Media RelationsCORE IRJules Abraham917 885
7378
Source: Adamas One Corp.
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